The price of digital asset Tezos (XTZ) is finally climbing back up after a period of declines last month and is now up a full 50 percent over the past 30 days.
April began looking good for Tezos as it climbed from $1.00 per coin to a $1.50 on April 23rd. However, it dropped quickly after to a low of $1.04 and has struggled to make any significant gains since.
Finally, on May 11th, Tezos starting climbing along with several other altcoins and has had a spectacular week since. The coin has reached a new yearly high of $1.71, the highest point it’s been since mid-October last year.
Tezos Athens A Upgrade
The positive gains come on the back of news that Tezos delegates are currently voting to implement the Athens A update to the Tezos mainnet. The Tezos consensus method requires a super-majority in favor of any decision before it can be passed.
The Athens A update suggests certain changes to the Tezos network, including an increase to the GAS limit and a decrease to the proof-of-stake (PoS) roll size. Currently, the amount of XTZ a delegate needs to propose or select a block is 10,000 – this will be reduced to 8,000. The increase in GAS limits will reduce the difficulty associated with smart contract deployment on the network.
Currently, votes stand at 61.06 percent in favor of implementing the Athens A upgrade on the mainnet, with 75.58 percent of the quorum having cast votes so far. The voting will continue for a further two weeks.